This year's Rhythmtree Festival on the Isle of Wight has been postponed.
Organisers said financial pressures meant the three-day event, at Sticelett Farm, cannot go ahead.
In a post on Facebook, they said a decision has been made 'to protect the life and longevity of Rhythmtree.'
Rising costs of fuel, artist fees, production and labour costs, alongside the cost-of-living crisis, are all being blamed.
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A spokesperson for the festival said the 'festival ecosystem has changed'.
A statement said: "From our original home at Three Gates Farm to our most recent, beautiful site at Sticelett Farm; you have been there for us.
"We received so many positive comments about Rhythmtree 2022 and enjoyed seeing all the fantastic pictures of your experiences, topped off by the stunning sunset. However, while running an independent festival is rewarding, unfortunately, it comes with its challenges.
"We want you all to know that we are doing everything possible to ensure Rhythmtree Festival returns in full for 2024.
"This has been the hardest decision to date and one we haven't taken lightly."
Some 'initmate gigs' will still go ahead at Sticelett Farm in July, organisers said.
Islanders are urged to sign up to the newsletter for tickets.
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